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Information message

30 January 2008

In view of some mass media saying that the death of Oleg Zhukovsky, VTB managing director, was allegedly caused by the Bank's refusal to extend his employment contract, we would likely inform the following.

This information is not true. VTB didn't make any decision to reduce its staff from 1 January 2008, as mass media said, and, in particular, the Bank didn't intend to terminate an employment contract with O.Zhukovsky. It's the Bank's considered opinion that spreading of such information would prevent an objective investigation of the death's reasons.

Official comments on the death of O.Zhukovsky would only be available after the end of investigations by law enforcement authorities.

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